# BIC

Bank Identifier Code (SWIFT) used to identify banks in international payments.

## Definition

Bank Identifier Code (SWIFT) used to identify banks in international payments.

## Why this term matters

BIC (a.k.a. SWIFT code) is the bank-routing identifier in BT-86 PaymentServiceProviderIdentifier and is still required for any non-SEPA cross-border payment, plus most non-euro currency conversions. Omitting BIC for these flows often forces the buyer’s bank to reject the payment file or auto-derive a wrong BIC, delaying settlement.

## Explanation

Sometimes optional within SEPA but used for international transfers.

Provided alongside IBAN in invoices.

## Common mistakes

- Sending an 11-character "BIC11" with branch code on systems that only accept the 8-character "BIC8" head office form, or vice versa.
- Including spaces or hyphens — the BIC must match /^[A-Z]{6}[A-Z0-9]{2}([A-Z0-9]{3})?$/ exactly.
- Mismatching country position 5–6 (the country code inside the BIC) with the country embedded in the IBAN.
- Hard-coding a BIC for a generic head office when the IBAN is held by a regional branch — corporate banks may reject the payment as misrouted.

## Frequently asked questions

### When is BIC mandatory in EN 16931?
BT-86 PaymentServiceProviderIdentifier is optional in EN 16931 itself, but Peppol BIS Billing 3.0 and several CIUSes require it for non-SEPA cross-border payments. For SEPA euro payments within the EU/EEA, BIC has been optional since the SEPA "IBAN-only" rule took effect in February 2016.

### Where do I find a bank’s BIC?
On the bank’s account documentation, on bank statements, or via SWIFT’s public BIC directory (bank.swift.com). Some IBANs allow programmatic BIC derivation, but the safest source is the beneficiary themselves.

### Are BIC and SWIFT code the same?
Yes — "SWIFT code" is the colloquial name. Formally it is the ISO 9362 Business Identifier Code (BIC). 8-character form is the head office; the optional 9th–11th characters identify a specific branch.

## Related resources

- [Payment means codes](/resources/code-lists/payment-means-codes)

## Related terms

- [IBAN](/resources/glossary/iban): International Bank Account Number used for bank transfers.
- [Payment means](/resources/glossary/payment-means): Code describing how an invoice is paid (e.g., bank transfer, card, cash).